This shit is dead for burgers...

this shit is dead for burgers. i just download my tax csv from coinbase and there is absolutely no way to calculate all the transactions from coinbase to exchanges. only way its even remotely feasible is if you just calculate coinbase buys and sells only and disregard sends and receives. im getting out of this shit now before i end up in trouble with the IRS. it's already going to take me probably a month just to calculate all this shit. it was a good run while it lasted but now that it's regulated it's just not a viable way to make money anymore. combine that with the declining adoption and use of crypto and it doesn't really take a rocket scientist to figure out the writing is on the wall.

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this is some decent fud for burgers, saved

just don't report anything fag. nothing happens

bitcoin.tax

nice fud tho

I did all of the things you supposedly cannot find ant way to do. it was a pain in the ass but I did it accurately.

i've traded on like 3 different exchanges. hundreds of trades. coins sent to and from different exchanges. theres nothing that can calculate all of that. not all the csv's are even in the same format so there is no universal software solution to calculate it. nothing is standardized.

I’m not reporting anything until there’s a standardized format. It’s just too sketchy right now.

exactly. its obvious they didnt think this through when they regulated it.

are you trying to calculte crypto to crypto trades by yourself and pay tax on them? That is a bad idea.

yea. its impossible anyway.

>invest $15k in crypto a while back
>worth $200k, cashed out $100k in 2017
>do taxes
>have over 2000 trades on binance, make sure to calculate how much I owe on a per trade basis
>end result: I owe $2,000,000

HOLY FUCK YOU LITEARLLY CAN'T WIN WITH CRYPTO

TAXED ON EVERY SINGLE TRADE AT THE PRICE IN USD, AT THE PRICE IN BTC, FOR EACH TOKEN OF THE ALTCOIN YOU HAVE AT THAT EXACT MINUTE OF THE DAY DOWN TO THE SECOND THAT THE TRADE WAS EXECUTED

IT'S ALL A PLOY YOU ARE GOING TO OWE THE US GOVERMENT 10x WHATEVER YOUR GAINS ARE IF YOU ARE IN ALTCOINS


NOOOOOOOOOOOO MOOOOOOOOOMMMMMMMMMYYYYYYYYYYYYYYYYYY

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Bitcoin.tax

Cointracking.info

>inb4 shill

^^^This
If this shit ever takes off like we hope it will, you better be on the right side of the law. If BTC reaches even $100k they’ll be coming for everyone. I don’t give a fuck if I have to give the IRS some crumbs. Someday I want to eject from this shit, disappear, and not be fucked with.

Were talking about exchange platforms here. Assuming you only used 3 accounts, there's no way you can't request log reports on your activities from the services... It's a pain but just write a script that calculates the log files.

that doesnt sound right though. your only taxed a percentage of a gain.

>used coinbase as a fiat on ramp
>accidently mistyped the wallet address when sending it
>woops instant 100% loss sorry revenuer
;)

due to the sheer scale and technology involved, i also think that when the IRS realizes they can't even come close to catching all the people who didnt pay taxes...they are gonna fuck the idiots who actually did them to make an example and save face.

either way this board is gonna be hilarious come april

Eurofag here. Only tax for me with crypto is this 20% of earnings when I turn crypto into fiat. Feels good.

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how can it ever take off when it's regulated like property? this shit is dead. im telling you. if your in the US it's over. cash out now and hope to god you can sum all this shit up and not go to prison.

maybe once decentralized tor exchanges become and thing and everyone is trading privacy coins then maybe just maybe it might come back to life. but as it is now it's completely ruined in the US.

If you declare crypto to crypto trades you are the biggest cuck ever

BitcoinTax.com.

If you can't figure it out sell now and get out of crypto.

none of those programs can handle csv's in different formats. that might be ok if you only used one exchange though.

>you have to be able to do computer programming to do your taxes now
yeah this will fucking work great

You know you can buy and sell crypto for cash? You are not so retarded as to leave a digital trail that can be traced back to you?

>implying 90% of the sellers on localbitcoins aren't federal agents.

Yes, whenever I make a transaction there I get arrested, shit sucks.

get an accountant you fucking tard

if they are feds they wont arrest you. they will let you keep coming back buying more and more from them letting you dig your own grave. then one spring morning you will get a knock on the door and it will be the IRS.

>bitcoin.tax
bet they forward all your info to the IRS

wrong cunt fuck. i have hundereds of trades, multiple exchanges, hardware wallets, software wallets, sending coins all over the fucking place, selling for cash, trading for alts... and i tracked it all to the penny. cointracking tracked it al but it was a pain in the fucking ass with shit tons of excel spreadsheets and a fuck ton of manual entry on cointracking. try the api import first (i did not do this).

This

What is cost basis???

agreed, 6/10

I am a burger though and have automated all my calculations and it takes me minutes to update my tax records, and I have been doing it for 5 years. you're just a god damn brainlet OP.

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